What is the fee on Kalshi for this market?

At the current typical price of 3¢, about 0¢ per contract (7% × price × (1 − price), rounded up, on orders that take liquidity). On a $50 trade that is about $3.38.

What win rate do I need to break even?

About 4% if you hold to settlement, against a market price of 3%. The gap is the fee.

Markets › Kalshi › Financials

Kraken IPO on Kalshi

If Morgan Stanley serves as a lead underwriter for Kraken's initial public offering in the United States before Jan 1, 2027, then the market resolves to Yes.

Settles on: Fox Business, ABC, CNBC, The Wall Street Journal, MSNBC, Financial Times, bank, NBC, company, The New York Times, EDGAR database, the U.S. Securities and Exchange Commission, MarketWatch, Axios, Reuters, CNN, the Associated Press, CBS, Politico, Yahoo Finance, Bloomberg News.

Market says (typical open contract)

Median YES price across 5 open contracts, 10 Nov 2026 09:57 UTC.

Real-world odds

—

No independent base rate yet. Until we connect one (sportsbook consensus, forecasts, the score), the market's own price is the best public forecast, and the fee sits on top of it.

Luck needed meter

7% 😈

All but decided, says the market. The remaining cents are the price of the rare surprise, and the fee comes off them first.

The cover charge

Fee and break-even by purchase price
If you buy at	Fee per contract	On $50	Win rate to break even
3¢ (now)	0.2¢	$3.40	3.2%
30¢	1.5¢	$2.45	31.5%
50¢	1.8¢	$1.75	51.7%
70¢	1.5¢	$1.05	71.5%
90¢	0.6¢	$0.35	90.6%

Resting orders pay no fee on this series. Formula: 7% × contracts × price × (1 − price), rounded up, on orders that take liquidity. Break-even assumes you hold to settlement; trading out early pays the fee twice.

How long until your balance is $0 in this market? →

Open contracts right now

Open contracts in this series with price, implied probability, volume and close time
Contract	YES price	Implied	Fee at this price	Real-world odds	Luck needed	Volume	Closes
Will Citigroup take Kraken public before Jan 1, 2027? · Citigroup	3¢	3%	0.2¢	—	7%	33,977	Jan 01, 04:59 UTC
Will Goldman Sachs take Kraken public before Jan 1, 2027? · Goldman Sachs	3¢	3%	0.2¢	—	7%	30,547	Jan 01, 04:59 UTC
Will Morgan Stanley take Kraken public before Jan 1, 2027? · Morgan Stanley	3¢	3%	0.2¢	—	6%	25,066	Jan 01, 04:59 UTC
Will Bank of America take Kraken public before Jan 1, 2027? · Bank of America	4¢	4%	0.3¢	—	8%	19,234	Jan 01, 04:59 UTC
Will JPMorgan Chase take Kraken public before Jan 1, 2027? · JPMorgan Chase	2¢	2%	0.2¢	—	5%	18,682	Jan 01, 04:59 UTC

Who actually wins this market

Whoever posts the resting orders and collects the spread without paying a fee.
The venue, on every fee.
Not, on average, the person clicking buy because the chart is going their way. That was us.

Still want to play? Read the deal first: what the account asks for, what the bonus really is, and whether we are paid. Vendors sell bots for markets like this one; see the bot benchmark before you pay for one.